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Location: Central Bank of Bahrain Volume 5—Specialised Licensees > Specific Modules (By Type of Licensee) > Type 1: Money Changers Licensees > Part A > High Level Standards > GR Money Changers General Requirements Module > GR-10 Measures to Detect Counterfeit Currency > GR-10.1 Measures to Detect Counterfeit Currency
  • GR-10.1 Measures to Detect Counterfeit Currency

    • GR-10.1.1

      LicenseesG are required to apply the measures in this Section to detect counterfeit currency:

      October 2010

    • GR-10.1.2

      Licensees must have in place counterfeit detection machines that comply with the following requirements:

      (a) The detection machines must be used to verify the validity of all Bahraini currency submitted to licenseesG (including any branch);
      (b) LicenseesG should have a suitable number of machines at each outlet to handle the volume of banknotes they ordinarily receive. Every outlet must have at least one such detection machine.
      (c) A teller (or any other person who accepts cash from the public) must check the validity of all the banknotes he receives on a detection machine. LicenseesG should ensure that tellers have been given adequate training in receiving banknotes and are familiar with the security features of Bahraini notes; and
      (d) LicenseesG should endeavour to have detection machines that employ state-of-the-art detection technology. What constitutes 'state-of-the-art detection technology' shall be left for the determination of licenseesG , but the management of such licenseesG must apply their judgement as to the suitability of the technology they are employing and be prepared to justify their choices to the CBB upon request.
      October 2010

    • Reporting

      • GR-10.1.3

        When a licenseeG discovers a counterfeit note (or what appears to be an item intended to be passed-off as a lawful banknote of the Kingdom) it should remit the same to the Currency Issue Directorate at the CBB, together with a report as required in Rules BR-1.5.14 and BR-1.5.15.

        October 2010

      • GR-10.1.4

        When a licenseeG discovers a counterfeit note of a foreign currency, it should remit the same to Director of the Compliance Directorate at the CBB and copied to the Director of the Financial Intelligence Unit at the Ministry of Interior, together with a report as required in Rules BR-1.5.14 and BR-1.5.15.

        October 2010

      • GR-10.1.5

        LicenseesG are reminded that inadvertent receipt of counterfeit currency remains their responsibility and their liability alone. The CBB has no obligation to give value for any counterfeit currency.

        October 2010

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